FINRA Regulatory Notice 25-05: Streamlining Outside Activity Rules for Associated Persons

FINRA has released Regulatory Notice 25-05, inviting public comment on a proposal aimed at reducing compliance burdens tied to outside business activities (OBAs) and private securities transactions (PSTs). The proposal seeks to consolidate FINRA Rules 3270 and 3280 into a single, streamlined rule that clarifies expectations for registered and associated persons, while maintaining strong investor protections.